The Eagle Publishes Article on Football's Local Impact with PERC Staff
Sep 14, 2020
Summary: PERC’s Director Dennis Jansen and Andrew Rettenmaier, PERC’s executive associate director, talked about football’s economic impact on the College Station-Bryan economy in an article in The Eagle that was published on Sunday, September 13, 2020.
Restaurant owners, hoteliers, and other retailers in College Station-Bryan are hoping for a boost in sales and receipts from the upcoming shortened Aggie football season. Traditionally, football season and the visitors it brings to the area are a boon to local businesses.
“[Jansen and Rettenmaier said] locally in 2019, monthly taxable sales from September through November averaged $361 million, higher than the yearlong monthly average of $348 million. Monthly hotel receipts in the fall averaged $11 million, well above the $9.3 million monthly average.”
The average monthly employment in the leisure and hospitality industry was also the highest during the fall months last year. “Rettenmaier said the hospitality and leisure industry made up 6.6% of all local earnings in Bryan-College Station in 2019, which is higher than the statewide figure of 4.2%. The local food services industry averaged $25 million per month from September through November 2019, up from the February-April monthly average of $22.3 million.”
Unemployment was at record lows at the start of 2020 before rates skyrocketed due to business shutdowns. “Jansen pointed out that prior to the pandemic — which pushed the local unemployment rate from 2.7% at the start of the year to 9.3% in April, before rebounding to 5.9% as of the end of June — the Bryan-College Station economy was improving over 2019 numbers, based on January and February figures.”
Read the full article at The Eagle here
For more information on the local economy, click here
to read the August edition of Economic Indicators.